[2015] Mariah Brito: Robber Barons

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by bolanrob1
Last updated 6 years ago

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[2015] Mariah Brito: Robber Barons

Robber Barons

-controlled shipping and railroads-used vertical integration to control every part of the shipping industriesVertical Integration-When a company expands its business into areas that are at different points on the same production path, such as when a manufacturer owns its supplier and/or distributor.Cornelius Vanderbilt set his focus on the railroad industry to make railroad transportation more efficient in the late 1860's.http://www.history.com/topics/cornelius-vanderbilt

Cornelius Vanderbilt

What he did

Robber Barons

Robber Baron was a term applied to a businessman in the 19th century who engaged in unethical and monopolistic practices, wielded widespread political influence, and amassed enormous wealth.-Cornelius Vaderbilt was one of four men who were labled as a Robber Baron. -Jp Morgan, Andrew Carnegie, and John D. Rockefeller were the other Robber Barons. Jp Morgan-One of the most respectable of the four Robber Barons. Bought Carnegie Steel to form US Steel, Created GE- General electricAndrew Carnegie-founded Carnegie steel company John D. Rockefeller- Founded Standard Oil, became the richest man in history, created an oil monopoly through Horizontal integration.-http://www.investopedia.com/terms/r/robberbarons.asp-http://history1800s.about.com/od/1800sglossary/g/Robber-Baron-definition.htm

Did you know...

The More you Know..

During the U.S. Civil War, Cornelius Vanderbilt donated his largest and fastest steamship, named the Vanderbilt and built for around $1 million, to the Union Navy. The vessel was used to chase down Confederate raiders.http://www.history.com/topics/cornelius-vanderbilt

More about Robber Barons-Wealthy and powerful-use exploitative practices & government influence-pay extremely low wages-create monopolies & raise prices-Monopoly- company that dominates 1 industry


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